Serious negotiations have begun as Peter Jackson moves forward with turning The Hobbit into a trilogy

So a couple of weeks ago during Comic-Con, we got word that Peter Jackson's two-film adaptation of THE HOBBIT could possibly be turned into a trilogy, creating a whole new third film that would presumably bridge in even grander fashion into Jackson's LORD OF THE RINGS. While the idea is obviously an exciting one for fans, I don't think many of us gave the news much credence as it came across as more idle talk than anything else.

But according to THR, it looks like this is a much more real thing than we thought! Sources close to the production are reporting that Jackson definitely wants to turn the series into a trilogy and that he and Warner Bros, along with writer-producers Fran Walsh and Philippa Boyens, are now exploring the logistics of what it would take to make a third film. Talks are said to have ramped up in recent days, with WB on board if the right financial arrangements can be agreed upon (which includes securing new deals with the films' large cast as well as locking down certain rights associated with the property).

"'If we're going to do it, we have to make a decision soon,' says a source close to the production. 'It's strongly driven by the filmmakers' desire to tell more of the story."

Assuming THE HOBBIT films turn out to be as lovely as THE LORD OF THE RINGS, I would absolutely relish the chance to be re-immersed in Jackson's Middle-Earth for three long films. If this happens, it would likely become the definitive fantasy saga of our lifetimes. I'm down for that. What say you?